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Moneycontrol.com India | Accounting Policy > Textiles - Spinning - Synthetic Blended > Accounting Policy followed by Wheel & Axle Textiles - BSE: 512297, NSE: N.A
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Wheel & Axle Textiles
BSE: 512297|ISIN: INE408F01016|SECTOR: Textiles - Spinning - Synthetic Blended
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Wheel & Axle Textiles is not traded in the last 30 days
Wheel & Axle Textiles is not listed on NSE
Mar 11
Accounting Policy Year : Mar '13
A.  SYSTEM OF ACCOUNTING :

The Company follows the mercantile system of accounting and recognises income and expenditure on the accrual basis.

B. INVESTMENTS :

i) Long Term investments of the company are stated at their cost of acquisition. ii) Provision for diminution in the value of long term investments is made only if, such a decline is other than temporary in the opinion of the management.

C. SALES & PURCHASES :

Sales & Purchases are recognised net of returns.

D. TAXATION :

Current tax has been determined and provided as the amount of tax payable in respect of taxable

i) income for the year.

ii) Deferred tax recognised, subject to the consideration of prudence, on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

Source : Dion Global Solutions Limited
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